179:"A firm’s knowledge is distributed, not only in a computational sense . . . or in Hayek’s (1945, p. 521) sense that the factual knowledge of the particular circumstances of time and place cannot be surveyed as a whole. But, more radically, a firm’s knowledge is distributed in the sense that it is inherently indeterminate: nobody knows in advance what that knowledge is or need be. Firms are faced with radical uncertainty: they do not, they cannot, know what they need to know."
163:"Before if we had a tough decision to make, we would have two or three different perspectives with strong support of all three. In a traditional organization the bossman decides after he’s heard all three alternatives. At Saturn we take time to work it out, and what generally happens is that you end up with a fourth answer which none of the portions had in the first place. but one that all three portions of the organization fully support (AutoWeeR, Oct. 8, 1990. p. 20)."
78:
58:, in which each agent participating in the market makes use of its current knowledge and plans to decide on the prices and quantities at which it chooses to transact. The resulting prices and quantities of transactions may be said to reflect the current state of knowledge of the agents currently in the market, even though no single agent commands information as to the entire set of such knowledge.
138:
Asymmetries: Asymmetries have a two-sides effect. Firstly, asymmetries enable more possibilities regarding learning and competence development. Secondly, asymmetries "increase differences between interpretative frameworks and the knowledge and competence profile of the different actors and thus make
50:
Each agent in a market for assets, goods, or services possesses incomplete knowledge as to most of the factors which affect prices in that market. For example, no agent has full information as to other agents' budgets, preferences, resources or technologies, not to mention their plans for the future
134:
Large numbers: Large numbers have a great impact on actions in terms of two aspects. On the one hand, there will be an increase in time and other resource requirements. On the other hand, actors with bounded cognitive resources will lose
121:"Dispersion of knowledge and genuine uncertainty contribute to the heterogeneity of expectations that must exist in order for one or more individuals to exploit the potential of the contractual structure of the firm."
73:
government policy is his belief that self-interested individuals throughout the economy, acting independently, can make better use of dispersed knowledge than could the best possible government agency.
124:"Dispersion of knowledge, genuine uncertainty, and heterogeneous expectations give rise to the nexus of the enterprising individual and the opportunity to discover, create, and exploit new markets."
702:
Burkley, Peter J; Carter, Martin J (1999). "Managing Cross-Border
Complementary Knowledge: Conceptual Developments in the Business Process Approach to Knowledge Management in Multinational Firms".
61:
Some economists believe that market transactions provide the basis for a society to benefit from the knowledge that is dispersed among its constituent agents. For example, in his
499:
Becker, Markus C (16 December 2002). "Managing
Dispersed Knowledge: Organizational Problems, Managerial Strategies, and Their Effectiveness".
308:
96:
dispersed, and cannot possibly be gathered together and conveyed to an authority charged with the task of deliberately creating order".
118:"Dispersed knowledge will give rise to genuine uncertainty, which necessitates the contractual structure that we recognize as a firm."
142:
Uncertainty: Uncertainty is defined to be one of the drivers of dispersed knowledge which can give rise to management problems.
194:
What's more, the capability to complete incomplete knowledge can deal with knowledge gaps created by the dispersed knowledge.
343:
197:
In addition, making a design of institutions with reasonable coordination mechanisms can be regarded as the third strategy.
758:
404:
649:
Nahapiet, Janine; Ghoshal, Sumantra (1998). "Social capital, intellectual capital, and the organizational advantage".
333:
606:
Cohen, Wesley M; Levinthal, Daniel A (1990). "Absorptive
Capacity: A New Perspective on Learning and Innovation".
442:
224:
155:
1. Dispersed knowledge causes different opinions and sources in cooperate organizations and it brings creativity.
800:
501:
231:
536:
Minkler, Alanson P (November 1993). "The
Problem with Dispersed Knowledge: Firms in Theory and Practice".
218:
203:
Last but not least, providing more data to decision maker will be helpful for making a correct decision.
167:
Companies are supposed to think highly of the dispersed knowledge and make adjustments to meet demands.
785:
571:
Tsoukas, Haridimos (1996). "The firm as a distributed knowledge system: A constructionist approach".
663:
790:
780:
38:
throughout the system. The term has been both expanded upon and popularized by
American economist
242:
151:
Dispersed knowledge will give rise to uncertainty which will lead to different kinds of results.
101:
421:
658:
191:
First of all, replacing knowledge by getting access to knowledge can be one of the strategies.
35:
213:
379:
200:
Besides, resolving organization units into smaller ones should be taken into consideration.
8:
795:
727:
684:
631:
549:
481:
361:
290:
16:
Information that is spread throughout the market and not in the hands of a single agent
188:
There are several strategies targeting at the problems caused by dispersed knowledge.
754:
719:
676:
623:
588:
553:
518:
485:
473:
426:
400:
339:
282:
237:
27:
159:
Richard LeFauve highlights the advantages of organizational structure in companies:
747:
715:
711:
668:
615:
580:
545:
510:
465:
461:
457:
247:
66:
89:
55:
774:
723:
680:
627:
592:
557:
522:
477:
286:
106:
70:
39:
672:
514:
584:
109:, which Hayek called "the best book on general economics in many a year."
731:
441:
Dew, Nicholas; Velamuri, S. Ramakrishna; Venkataraman, Sankaran (2004).
273:
Hayek, Friedrich (1 September 1945). "The use of knowledge in society".
635:
469:
294:
688:
99:
Today, the best and most comprehensive book on dispersed knowledge is
77:
23:
619:
309:"Book review: Knowledge and Decisions by Thomas Sowell - LessWrong"
252:
171:
2. Dispersed knowledge causes management problems at the same time.
51:
and numerous other factors which affect prices in those markets.
443:"Dispersed knowledge and an entrepreneurial theory of the firm"
31:
749:
Games and decisions : introduction and critical survey
419:
30:
has information as to all of the factors which influence
440:
378:
Mill, John Stuart (1909). Ashley, William James (ed.).
338:. University of Chicago Press. pp. 11–16, 42, 51.
704:
International
Studies of Management & Organization
422:"The Best Book on General Economics in Many a Year"
746:
360:
772:
648:
384:(7th ed.). London: Longmans, Green and Co.
605:
701:
69:states that one of the justifications for a
358:
744:
420:Friedrich August von Hayek (Dec 1, 1981).
397:The fatal conceit: The errors of socialism
662:
325:
76:
745:Luce, R Duncan; Howard, Raiffa (1957).
570:
535:
359:Menger, Carl; Louis, Schneider (1963).
773:
498:
84:
394:
352:
331:
272:
92:claimed that "dispersed knowledge is
377:
371:
363:Problems of Economics and Sociology
13:
550:10.1111/j.1467-6435.1993.tb00499.x
14:
812:
753:. New York: Dover Publications.
651:The Academy of Management Review
608:Administrative Science Quarterly
54:Market prices are the result of
738:
695:
642:
599:
564:
529:
381:Principles of Political Economy
367:. University of Illinois Press.
225:The Use of Knowledge in Society
63:Principles of Political Economy
716:10.1080/00208825.1999.11656758
492:
462:10.1016/j.jbusvent.2003.09.004
434:
413:
388:
301:
266:
146:
1:
502:Journal of Management Studies
450:Journal of Business Venturing
259:
183:
26:is the notion that no single
573:Strategic Management Journal
335:Law, Legislation and Liberty
275:The American Economic Review
232:The Cathedral and the Bazaar
139:integration more difficult".
112:
7:
219:Efficient-market hypothesis
206:
45:
10:
817:
128:
395:Hayek, Friedrich (1988).
332:Hayek, Friedrich (1973).
673:10.5465/amr.1998.533225
515:10.1111/1467-6486.00271
102:Knowledge and Decisions
585:10.1002/smj.4250171104
81:
801:Information economics
399:. London: Routledge.
214:Distributed knowledge
80:
85:Key characteristics
20:Dispersed knowledge
82:
786:Economic theories
345:978-0-226-32086-1
313:www.lesswrong.com
238:Knowledge sharing
808:
765:
764:
752:
742:
736:
735:
699:
693:
692:
666:
646:
640:
639:
603:
597:
596:
568:
562:
561:
533:
527:
526:
509:(7): 1037–1051.
496:
490:
489:
447:
438:
432:
431:
417:
411:
410:
392:
386:
385:
375:
369:
368:
366:
356:
350:
349:
329:
323:
322:
320:
319:
305:
299:
298:
270:
248:Data acquisition
175:Tsoukas stated:
67:John Stuart Mill
816:
815:
811:
810:
809:
807:
806:
805:
791:Friedrich Hayek
781:Austrian School
771:
770:
769:
768:
761:
743:
739:
700:
696:
664:10.1.1.598.8940
647:
643:
620:10.2307/2393553
604:
600:
569:
565:
534:
530:
497:
493:
445:
439:
435:
418:
414:
407:
393:
389:
376:
372:
357:
353:
346:
330:
326:
317:
315:
307:
306:
302:
271:
267:
262:
257:
209:
186:
149:
131:
115:
90:Friedrich Hayek
87:
56:price discovery
48:
17:
12:
11:
5:
814:
804:
803:
798:
793:
788:
783:
767:
766:
760:978-0486659435
759:
737:
694:
657:(2): 242–266.
641:
614:(1): 128–152.
598:
563:
544:(4): 569–587.
528:
491:
456:(5): 659–679.
433:
412:
406:978-0415008204
405:
387:
370:
351:
344:
324:
300:
281:(4): 519–530.
264:
263:
261:
258:
256:
255:
250:
245:
240:
235:
228:
221:
216:
210:
208:
205:
185:
182:
173:
172:
157:
156:
148:
145:
144:
143:
140:
136:
130:
127:
126:
125:
122:
119:
114:
111:
86:
83:
47:
44:
15:
9:
6:
4:
3:
2:
813:
802:
799:
797:
794:
792:
789:
787:
784:
782:
779:
778:
776:
762:
756:
751:
750:
741:
733:
729:
725:
721:
717:
713:
710:(1): 80–104.
709:
705:
698:
690:
686:
682:
678:
674:
670:
665:
660:
656:
652:
645:
637:
633:
629:
625:
621:
617:
613:
609:
602:
594:
590:
586:
582:
578:
574:
567:
559:
555:
551:
547:
543:
539:
532:
524:
520:
516:
512:
508:
504:
503:
495:
487:
483:
479:
475:
471:
467:
463:
459:
455:
451:
444:
437:
429:
428:
423:
416:
408:
402:
398:
391:
383:
382:
374:
365:
364:
355:
347:
341:
337:
336:
328:
314:
310:
304:
296:
292:
288:
284:
280:
276:
269:
265:
254:
251:
249:
246:
244:
241:
239:
236:
234:
233:
229:
227:
226:
222:
220:
217:
215:
212:
211:
204:
201:
198:
195:
192:
189:
181:
180:
176:
170:
169:
168:
165:
164:
160:
154:
153:
152:
141:
137:
133:
132:
123:
120:
117:
116:
110:
108:
107:Thomas Sowell
104:
103:
97:
95:
91:
79:
75:
72:
71:laissez faire
68:
64:
59:
57:
52:
43:
41:
40:Thomas Sowell
37:
33:
29:
25:
21:
748:
740:
707:
703:
697:
654:
650:
644:
611:
607:
601:
576:
572:
566:
541:
537:
531:
506:
500:
494:
453:
449:
436:
425:
415:
396:
390:
380:
373:
362:
354:
334:
327:
316:. Retrieved
312:
303:
278:
274:
268:
243:Transparency
230:
223:
202:
199:
196:
193:
190:
187:
178:
177:
174:
166:
162:
161:
158:
150:
100:
98:
93:
88:
62:
60:
53:
49:
19:
18:
470:10945/41244
147:Uncertainty
94:essentially
775:Categories
318:2022-02-02
260:References
184:Strategies
36:production
796:Knowledge
724:0020-8825
681:0363-7425
659:CiteSeerX
628:0001-8392
593:0143-2095
579:: 11–25.
558:0023-5962
523:0022-2380
486:154877523
478:0883-9026
287:0002-8282
135:overview.
113:Phenomena
24:economics
732:40397436
253:Polymath
207:See also
46:Overview
636:2393553
295:1809376
129:Drivers
757:
730:
722:
689:259373
687:
679:
661:
634:
626:
591:
556:
538:Kyklos
521:
484:
476:
427:Reason
403:
342:
293:
285:
32:prices
728:JSTOR
685:JSTOR
632:JSTOR
482:S2CID
446:(PDF)
291:JSTOR
28:agent
755:ISBN
720:ISSN
677:ISSN
624:ISSN
589:ISSN
554:ISSN
519:ISSN
474:ISSN
401:ISBN
340:ISBN
283:ISSN
34:and
712:doi
669:doi
616:doi
581:doi
546:doi
511:doi
466:hdl
458:doi
105:by
42:.
22:in
777::
726:.
718:.
708:29
706:.
683:.
675:.
667:.
655:23
653:.
630:.
622:.
612:35
610:.
587:.
577:17
575:.
552:.
542:46
540:.
517:.
507:38
505:.
480:.
472:.
464:.
454:19
452:.
448:.
424:.
311:.
289:.
279:35
277:.
65:,
763:.
734:.
714::
691:.
671::
638:.
618::
595:.
583::
560:.
548::
525:.
513::
488:.
468::
460::
430:.
409:.
348:.
321:.
297:.
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
